Clean Energy Stock Indexes: Trends, Fluctuations, and Implications for Investors

Mariana Chambino – Polytechnic Institute of Setúbal, (ESCE/IPS), 2910-761 Setúbal, Portugal

Rui Dias – Polytechnic Institute of Setúbal, (ESCE/IPS), 2910-761 Setúbal, Portugal; Center of Advanced Studies in Management and Economics, University of Évora, 7004-516 Évora, Portugal

Cristina Morais da Palma – Polytechnic Institute of Setúbal, (ESCE/IPS), 2910-761 Setúbal, Portugal

Abstract: The heightened attention towards clean energy markets has been spurred by COVID-19 and geopolitical concerns in 2022. This study in­vestigates the persistence of the Nasdaq Clean Edge Green Energy, Wilder­Hill Clean Energy, S&P Global Clean Energy, iShares Global Clear Energy ETF, and Clean Energy Fuels stock indexes for the period from May 3, 2018, to May 2, 2023. The findings are mixed since long memories were observed throughout the tranquil period; therefore, the events of 2020 and 2022 did not accentuate persistence. Based on the findings, it can be inferred that the long-term predictability of clean energy markets has potential advantag­es for investors with a focus on environmentally sustainable investments. However, investors must be aware of market risks and volatility, especial­ly during periods of economic or political instability. To reduce risk and in­crease returns, investors should diversify their portfolios across different clean energy indexes and other asset classes.

9th International Scientific ERAZ Conference – ERAZ 2023 – Conference Proceedings: KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT, hybrid – online, virtually and in person, Prague, Czech Republic, June 1, 2023

ERAZ Conference Proceedings published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ERAZ conference partners: Faculty of Logistics, University of Maribor, Maribor (Slovenia); University of National and World Economy – UNWE, Sofia (Bulgaria); Center for Political Research and Documentation (KEPET), Research Laboratory of the Department of Political Science of University of Crete (Greece); Institute of Public Finance – Zagreb (Croatia); Faculty of Tourism and Hospitality Ohrid, University of St. Kliment Ohridski from Bitola (North Macedonia)

ERAZ Conference 2023 Conference Proceedings: ISBN 978-86-80194-72-1, ISSN 2683-5568, DOI: https://doi.org/10.31410/ERAZ.2023

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 

Suggested citation

Chambino, M., Dias, R., & Morais da Palma, C. (2023). Clean Energy Stock Indexes: Trends, Fluctuations, and Implications for Investors. In V. Bevanda (Ed.), ERAZ Conference – Knowlegde Based Sustainable Development: Vol 9. Conference Proceedings (pp. 49-56). Association of Economists and Managers of the Balkans. https://doi.org/10.31410/ERAZ.2023.49

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